I have mineral interest in Sec 34- 6N- 7W Grady County. Camino is planning on drilling the Bennett well there. I did not accept their pre-pooling lease proposal and am not participating, choosing to go to forced pooling. Looks like copies of well permit came yesterday. At what point will they send me a letter so I can choose my option on royalty and bonus and get it back within 20 days? Is it soon, pre-drilling,or after drilling? Thanks, Ray
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Ray, in order to officially force pool you they have to have a hearing at the OCC first. The hearing for your interest here is not scheduled until July 15 so if an order is issued on July 15, they should start sending letters out within three business days after that, telling mineral owners who are included in the pooling of their options.
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Hi Ray,
I received the pre-pooling offer as well. Way too low in my opinion on any option. The approval to pool S34-6N-7W will be heard on July 15th. I received my notice by OCC last week.
I’ve been contacted by 2 leasing companies wanting to lease, but the price is still too low. $1250. Per acre for 3/16 lease. Hope this helps!
T
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So, if you think the pre pooling offer and and the small non op companies offers that followed are all way to low, what makes you think the forced pooling offer will be much higher with section 34 allocated at 24% interest in the unit and no new leasing in the other 2 sections that make up the remaining 76% interest in the unit?